Location: Nevada County, CA | Metro: Nevada County, CA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,640 |
| 1 Bedroom | $1,820 |
| 2 Bedrooms | $2,320 |
| 3 Bedrooms | $3,160 |
| 4 Bedrooms | $3,740 |
| 5 Bedrooms | $4,338 |
| 6 Bedrooms | $4,859 |
| 7 Bedrooms | $5,248 |
| 8 Bedrooms | $5,510 |
U.S. Census Bureau data (2024)
The Section 8 real-estate analysis for ZIP code 96111 focuses on the disparity between the Fair Market Rent (FMR) and the actual market rent. For the fiscal year 2026, the FMR for the metro area is $2,360. However, the market rent data is currently unavailable, which makes it challenging to assess the precise gap. Given the median home value in ZIP 96111 is $765,600 and there is no median income data available, the context suggests a relatively affluent area with limited rental activity.
If the FMR were higher than the market rent, it would indicate a yield play opportunity for landlords. In such a scenario, voucher tenants would help cover rents that might otherwise remain vacant, providing a steady income stream below market rates but above operating costs. Conversely, if the FMR is lower than the market rent, landlords face the cost of housing voucher tenants below open-market rates, which could result in lower yields and reduced profitability.
The lack of renters (0.0%) and the absence of median income data imply that the majority of residents in ZIP 96111 are homeowners rather than renters. This further supports the idea that the rental market is not robust, making the FMR a critical benchmark for those who do choose to rent. As the FMR is set at $2,360 for a metro area, landlords must carefully evaluate their costs and potential returns when considering Section 8 tenants.
To conclude, the analysis of the Section 8 program in ZIP 96111 requires a clear understanding of the FMR and its relationship to the market rent. With the median home value being significantly higher ($765,600), landlords should be prepared for either a yield play or the challenge of accepting lower rents through the Section 8 program. The decision should be made based on the specific financial situation and goals of the landlord.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.